Advisors Disciplined Trust 776 registers Tactical Income units

By Toni Weeks

San Diego, Nov. 16 - Advisors Disciplined Trust 776 has registered units of its Tactical Income Closed-End Portfolio, Series 2011-4, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Monument, Colo.-based Advisors Asset Management, Inc.

The trust seeks high current income with capital appreciation potential as a secondary objective by investing in shares of income-oriented closed-end funds.

On the trust's inception date, Nov. 15, there was $148,875 of contracts to purchase underlying securities and 15,038 units, each with a public offering price of $10 and a net asset value of $9.555. The estimated net annual distributions per unit are $0.8435 for the first year and $0.8294 for the second year.

The units have a maximum sales fee of 3.95%, consisting of a 1% initial sales fee, a 2.35% deferred sales fee and a 0.6% creation and development fee. Reductions in the sales fee are available on a sliding scale down to 2.45% depending on the number of units purchased.

The trust's termination date is Nov. 13, 2013.

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